Longevity Actuary

Longevity Actuary

Together, we engage with everything we have and are, to help humankind act braver and better.

About UK Life Branch With the offices in London, it forms the Life 1 division of Munich Re. The UK life market is one of the, if not the, most competitive life markets in the world. We understand that Life insurers work in a dynamic market where medical progress, demographic trends and changing lifestyles are constantly giving rise to new risk landscapes.

This demanding situation is made even more challenging by changing laws and regulations and ever tougher competition. So we need a smart strategy and structure in order to succeed. At UK & Ireland Life we have three pillars to our business strategy: protection, longevity and reinsurance structuring. All three are key to the success of our business so it’s important to look at the big picture.

In terms of clients, we trust them as experts of their business and provide them with the financial strength of the world’s largest reinsurer, global expertise and sharp pricing so that they are both competitive and profitable.

The Longevity Actuary has an important role in helping the Longevity team in securing profitable new business by being a pricing and process expert. You will help ensure our approach to pricing longevity risk is market appropriate, and that our product offerings and processes are optimised. The Longevity Actuary will support the wider team across the range of actuarial work we complete, including checking new business quotes, proposition and basis work and further developing our global centre of competence role.

You will also support with system development to ensure we continue to improve efficiency across our work. This is a great opportunity for a technically strong individual to join a growing team in an exciting and rewarding environment.

• Support on deal origination, managing client relationships and assess deal attractiveness for both UK and non-UK markets
• Lead new longevity reinsurance quotes as part of quote teams in both the UK and non-UK markets
• Support executions on actuarial side – contractual aspects, model reviews.
• Review pricing assumptions in tenders and the wider basis related discussions
• Support enhancements to UK basis, proposition and market offering
• Develop an in-depth understanding of our pricing approach to support the wider team with your technical and modelling capabilities
• Share your knowledge on market developments and practices with the team through training and knowledge sharing
• Improve pricing tools and processes to ensure the Longevity team stays competitive.

• Drives results (we think big) – You consistently achieve results even under tough circumstances, with the organisation’s performance in the front of your mind. You make good and timely decisions to keep things moving, using analysis, experience and judgement.
• Business insight (we think big) – You can apply your knowledge of the business and the market to advance your business’ and wider organisation’s goals.
• Collaboration (we lead the ‘we’) – You identify opportunities and bring the right people together to work on a common goal, encouraging diversity of opinion, whilst maintaining clarity and unity of direction.
• Client focus (we grow with our clients) – You build and maintain strong client relationships (internal and external), listening to their needs and working with them to ensure value is created.
• Cultivates innovation (we grow with our clients) – You create new and better ways for Munich Re to be successful e.g., generating ideas, creating efficiencies, harnessing new technology etc.
• Courage (we care and dare) – You are willing to challenge the status quo and address difficult issues, saying what you believe needs to be said. You also continue to operate effectively even when things are uncertain and the way forward is unclear.
• Persuades (we are clear and authentic) – You use clear and compelling arguments to gain the support, enthusiasm and commitment of others, whilst ensuring you take time to actively listen to the diversity of views and opinions.

• Nearly or…